Zacks Investment Research Lowers Life Storage (LSI) to Sell

Zacks Investment Research cut shares of Life Storage (NYSE:LSI) from a hold rating to a sell rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “Life Storage, Inc. is a fully integrated, self-administered and self-managed real estate investment trust which acquires and manages self-storage properties. The company’s brand name consists of Life Storage(R) and Uncle Bob’s Self Storage(R). Life Storage, Inc., formerly known as Sovran Self Storage, Inc., is headquartered in Buffalo, New York. “

Other research analysts have also issued research reports about the stock. Bank of America set a $105.00 price target on shares of Life Storage and gave the company a hold rating in a research note on Friday, March 1st. ValuEngine lowered shares of Life Storage from a buy rating to a hold rating in a research note on Monday, April 1st. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $97.86.

Shares of LSI opened at $94.22 on Thursday. Life Storage has a 52 week low of $84.78 and a 52 week high of $102.91. The stock has a market capitalization of $4.39 billion, a P/E ratio of 17.10, a P/E/G ratio of 4.27 and a beta of 0.46. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.83.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Tuesday, April 16th will be paid a $1.00 dividend. The ex-dividend date is Monday, April 15th. This represents a $4.00 dividend on an annualized basis and a yield of 4.25%. Life Storage’s dividend payout ratio (DPR) is currently 72.60%.

In related news, Director David L. Rogers sold 10,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $96.12, for a total value of $961,200.00. Following the transaction, the director now owns 120,000 shares in the company, valued at approximately $11,534,400. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.80% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in LSI. Pennsylvania Trust Co bought a new position in Life Storage in the 1st quarter valued at approximately $344,000. Nisa Investment Advisors LLC lifted its stake in Life Storage by 83.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 22,175 shares of the real estate investment trust’s stock valued at $2,157,000 after purchasing an additional 10,075 shares during the last quarter. Northpointe Capital LLC lifted its stake in Life Storage by 7.9% in the 1st quarter. Northpointe Capital LLC now owns 41,058 shares of the real estate investment trust’s stock valued at $3,994,000 after purchasing an additional 2,998 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV bought a new position in Life Storage in the 1st quarter valued at approximately $208,000. Finally, Reinhart Partners Inc. lifted its stake in Life Storage by 28.8% in the 1st quarter. Reinhart Partners Inc. now owns 20,748 shares of the real estate investment trust’s stock valued at $2,018,000 after purchasing an additional 4,643 shares during the last quarter. Hedge funds and other institutional investors own 98.09% of the company’s stock.

About Life Storage

Life Storage, Inc is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self storage facilities. Located in Buffalo, New York, the Company operates more than 750 storage facilities in 28 states and Ontario, Canada. The Company serves both residential and commercial storage customers with storage units rented by month.

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